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June 20, 2017

June 2017

Welcome back!

This is for condos and townhomes in the ARMLS area, within give or take about 20 miles of central Phoenix.  This will of course include some area of Scottsdale, Paradise Valley, Mesa, Tempe and so on.

So here is information for the month ending May 2017

We had a total of 1268 condos and townhomes that sold in April

Highest sale $2,600,000

3 bedroom

3.5 baths

3950 square feet

property was in Biltmore area.

This is a gated community, and a golf course community.  Should see this property, it is pretty awesome!

Other good information for would be sellers.

1.57 months of current inventory for condos/townhomes

118 is average days on market for active properties

61 is average days on market for sold properties in last week (notice difference – price is KEY)

$153.04 was average $/sq ft. for properties sold

$201,216 was the average sale price

It is currently a great time to consider selling your condo.  For one, there is an increase in the volume of sales at this time of the year.  Also, as a home seller, there is currently a low level of inventory of properties for sale, which favors the sellers.  With low inventory, there is less competition to sell, and of course less choices for buyers.

Also – great time to buy.  There are choices, maybe not as many, but some great options.  Also, interest rates are still great.

Recent property sales and values for May 2017

Welcome back!

 

This is for condos and townhomes in the ARMLS area, within give or take about 20 miles of central Phoenix.  This will of course include some area of Scottsdale, Paradise Valley, Mesa, Tempe and so on.

So here is information for the month ending April 2017

We had a total of 1118 condos and townhomes that sold in April

Highest sale $1,700,000

3 bedroom

3.5 baths

3000 square feet

property was in Biltmore area.

This is a gated community, and a golf course community.  Should see this property, it is pretty awesome!

Other good information for would be sellers.

1.75 months of current inventory for condos/townhomes

108 is average days on market for active properties

66 is average days on market for sold properties in last week (notice difference – price is KEY)

$152.74 was average $/sq ft. for properties sold

$199,633 was the average sale price

 

It is currently a great time to consider selling your condo.  For one, there is an increase in the volume of sales at this time of the year.  Also, as a home seller, there is currently a low level of inventory of properties for sale, which favors the sellers.  With low inventory, there is less competition to sell, and of course less choices for buyers.

Also – great time to buy.  There are choices, maybe not as many, but some great options.  Also, interest rates are still great.

Highest sale this past week | January 30 2017

Welcome back to another post of what the highest sale was this past week.  This is for condos and town homes in the ARMLS area, within give or take about 20 miles of central Phoenix.  This will of course include some area of Scottsdale, Paradise Valley, Mesa, Tempe and so on.  Wish I could post pictures for you all, but the truth is that the photos belong to the MLS, the owner and agent, and can’t be used for “marketing” purposes.  So, I can send it to clients, but can’t just freely post………….or I’d get sued.

So here is information for the highest sale this past week.

We had a total of 131 sales this past week

Highest sale $769,000

3 bedroom

2 bath

1970 square feet

In the Gainey Center

This is a gated community.

 

Other good information for would be sellers.

11.94 months of current inventory for condos/townhomes

113 is average days on market for active properties

70 is average days on market for sold properties in last week (notice difference – price is KEY)

$127.19 was average $/sq ft. for properties sold

 

January 23, 2017

How long to Sell a Phoenix Property | January 2017

 

How long to sell a Phoenix Property? January 2017

The answer to the question is that the length of time to sell a Phoenix property will vary.  Yet, we can look at some information which can give you a general idea, based on other properties which have sold in the area.

Information is gathered from the MLS (multiple listing service) on ALL properties that are currently on market, under contract or recently sold.

I HIGHLY recommend that you get a property valuation for your property, if considering selling and looking to see most likely sales price.  You can request that here, I would be happy to discuss your properties value, market trends and what can be expected in today’s market.

 

 

Condos

What is the average time on market for Phoenix Condos?

131 days is the current average

987 plus days is the longest time on market

 

What is the average time on market for Central Condos currently under contract?

82 days is current average for time to get home under contract

475 is current longest time for home

 

What is the average time on market for Phoenix Condos that have sold in the last 30 days?

85 days

369 was longest time

What is the average sales price for condos that sold in the last month?

 $174,779

What is the average dollar a square foot for condos that sold in the last month?

$150.93

How much current inventory is available on market, and does it benefit buyer or seller?

3.21 months which is more leaning toward a buyer market, so benefits buyer.

 

 

Townhomes

What is the average time on market for Phoenix Townhomes?

102 days is the current average

1587 plus days is the longest time on market

 

What is the average time on market for Phoenix Townhomes currently under contract?

67 days is current average for time to get home under contract

986 is current longest time for home

 

What is the average time on market for Phoenix Townhomes that have sold in the last 30 days?

57 days

486 was longest time

What is the average sales price for townhomes that sold in the last month?

 $162,612

What is the average dollar a square foot for townhomes that sold in the last month?

$124.64

How much current inventory is available on market, and does it benefit buyer or seller?

2.02 months which benefits the seller.

 

 

Single Family Homes

What is the average time on market for Phoenix single family homes?

92 days is the current average

1263 plus days is the longest time on market

 

What is the average time on market for Phoenix single family homes currently under contract?

66 days is current average for time to get home under contract

842 is current longest time for home

 

What is the average time on market for Phoenix single family homes that have sold in the last 30 days?

67 days

460 was longest time

 

What is the average sales price for single family homes that sold in the last month?

 $279,657

What is the average dollar a square foot for single family homes that sold in the last month?

 $146.83

How much current inventory is available on market, and does it benefit buyer or seller?

2.30 Months which benefits the seller.

 

Commentary –

Overall the market in the Phoenix area benefits the seller, with most market being under 3 months inventory.  I tend to call it inventory, while some others may describe it as absorption rate.  The idea is that a market with under 3 months is one which shows a lower level of inventory and thus benefits the seller.  Once you see over 3 months it becomes more of a transitional market and buyer market.  While the low 3’s may be a middle ground.

Homes in Phoenix overall are experiencing then a seller market, and that has been the case for over a year.  That being said though, there are NICHE markets and different price ranges which will NOT be a seller market.  For instance the luxury home market, or higher end vs. lower end condos or townhomes.  Point is, if you are considering selling you really want to get a accurate idea of value and most likely sale price.

Request your valuation here.

 

Highest sales of the Week – December 27, 2016

Welcome back to another post of what the highest sale was this past week.  This is for condos and town homes in the ARMLS area, within give or take about 20 miles of central Phoenix.  This will of course include some area of Scottsdale, Paradise Valley, Mesa, Tempe and so on.  Wish I could post pictures for you all, but the truth is that the photos belong to the MLS, the owner and agent, and can’t be used for “marketing” purposes.  So, I can send it to clients, but can’t just freely post………….or I’d get sued.

So here is information for the highest sale this past week.  Keep in mind, there were some holidays there (Merry Christmas), so there was less sales for that reason.

We had a total of 156 sales this past week

Highest sale $770,000

3 bedroom

2 bath

1663 square feet

In the Casa Blanca subdivision in Paradise Valley Az.

This is a guarded and gated community.

 

Other good information for would be sellers.

9.79 months of current inventory for condos/townhomes

119 is average days on market for active properties

73 is average days on market for sold properties in last week (notice difference – price is KEY)

$150.29 was average $/sq ft.

Highest Sale in Central Az week of November 28th 2016

I for one, love to know what is going on in real estate.  I like knowing about the statistics that show averages for time on market, for sales prices and more.  One of the things many people find cool, is know what is selling on the high side, or luxury market.  So for this quick and fast post, I’m sharing what has been the highest sale for the month to date of November 2016 in the condo or town home market.

This includes about a 15 mile radius from central Phoenix.

The Highest sale for the month to date was:

$1,335,000

3 bedroom 2.5 bath condo

located at the Lofts at Orchidhouse

3093 square feet

2 car parking in garage

Folks, wish I could just post these photos on this one, but can’t.  I can send you a link if your interested in seeing, or interested in buying in the area.  This home, I kid you not, is really awesome!!  There are others in the area, and you can view them on other pages here at this site.

Other information, that may be of interest for condo/town home owners in the Phoenix area:

For properties over $400,000 the average days on market to sell was about 102.  Longest took about 334, and shortest went under contract immediately.  $306 was the average sale price per square foot.

Hope this all helps, call me if you have questions about anything specific in the Phoenix area, I’m here to help.